Welcome back to Success Unlocked, where our hosting business master membership coaches discuss operations, social media, unique builds, co-hosting strategies, and so much more. This week’s episode is Vacation Ventures, hosted by Michael Hicks.
In this episode, Mike helps Annette work through her recent experience scouting two 100+ acre properties for potential STR development. From septic to signing – there are hundreds of things to keep your eye on in this process, and Mike’s just the guy to help us put a method to the madness.
His vast building experience proves valuable in aligning early priorities with the city, county, and zoning commission; explaining how to make the math work; and avoiding beginner’s mistakes like overlooking natural water features, alarming nosy neighbors, and caving on your own preferred timetable for due diligence.
(00:02:55) Existing Structures & Utilities: Bonus or Burden?
(00:09:41) First Steps & Important Early Priorities
(00:16:10) Common Roadblocks & Beginner Mistakes
(00:24:05) Dollars & Sense: The Math Behind it All
(00:31:32) Revisiting Annette’s Research & Next Steps
Resources:
Thanks for Visiting is produced by Crate Media.
Mentioned in this episode:
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361. We Bought Land (Part 2): How to Use ChatGPT in Your Vacation Rental Competitive Analysis
360. Hosting Hotline: Should Direct Bookings Earn More Revenue Than OTAs?
359. Why Dynamic Pricing Should Be Your #1 Priority as an Airbnb Host
358. Hosting Hotline: Summer Grilling Safety Tips for Airbnb Hosts & Co-Hosts
357. My Airbnb Burnt Down! AirCover vs. STR Insurance Spotlight
356. Hosting Hotline: Quick Tips for Using PriceLabs Dynamic Pricing Software
355. What Are Typical Seller Financing Terms? (And Is It Worth It?)
354. Hosting Hotline: Details on Airbnb’s New Indoor Camera Policy (Starting TODAY)
353. Kristie Wolfe: How I Launched The Big Idaho Potato Hotel (and More!)
352. Hosting Hotline: Pros & Cons of Converting From STR to MTR Bookings
351. Scaling a Hospitality Empire: Motel, Wedding Venue, Co-Hosted STRs & a Boutique Hotel
350. Hosting Hotline: Managing Guest Expectations for Airbnbs in Revitalized Neighborhoods
349. We Bought Land (Part 1): Laying a Foundation for Long-Term Partnership
348. Hosting Hotline: Bedding & Laundry Tips for Your Short-Term Rental Business
347. How to Optimize Your Supply Inventory as an Airbnb Co-Host in 2024
346. Hosting Hotline: Short-Term Rental Dreams vs. Mid-Term Rental Demand
345. STR Safety in 2024: The Latest on Regulations, Technology & Trends with Justin Ford
344. Hosting Hotline: Tips & Tricks for Avoiding Pet Smells in Your Short-Term Rental
343. What’s a Public Adjuster? Why Knowing One Might Save Your Vacation Rental
342. Hosting Hotline: Creative Ideas for Concierge Services to Differentiate Your STR
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